On a fine spring morning on May 1st, 2140 at 10:02 am [1] perhaps the last Bitcoin block will be mined. Just about all of us will be a memory, unless the singularity takes hold soon. Thus we may not witness this event.
Transaction Fees
At this point, our grand kids or great grand kids, if we choose to reproduce, will perhaps run the generational mining operations you and I may have started in the early part of 2014s. Along the way voluntary transaction fees would be the fundamental income for mining operations. Transaction fees are already a part of the majority of block chain events, it is just not talked about.
Generational Family Of Miners
Although at first blush it may seem to be a very low sum compared to the early years of mining, it may eclipse the income because over the decades, with orders of magnitude of growth produced by more transactions then all payment systems combined. Thus mining will continue to be profitable for the forceable future. It will not be easy for many miners to keep up with the ASIC systems needed to stay relevant, but I predict many will and it will become a generational business.
I urge you to understand Bitcoin before May 1st, 2140 at 10:02 am and help create a once in an epoch generational wealth for you and the next 100 generations. Here is a good place to start:
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[1] This is an estimate based on many variables, the exact date is a fanciful illustration, no one knows the exact date nor time. However most who have done the calculations conclude that the event will be in the early part of 2140 and is accurate within +/- 5%.
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Brian, in the article you linked to there are several charts one from Plan B. What are your thoughts on his S2F/S2FX model? Your recent comments on Bitcoin’s price seem to be far more than what his model predicts over the near term and next couple of years. Any insight appreciated!